Norway’s $1.7 trillion sovereign wealth fund, the eighth-largest shareholder in Tesla, has announced its opposition to ratifying Tesla CEO Elon Musk’s $56 billion pay package, which will be put to a shareholder vote next week. The fund’s decision is based on concerns about the package’s size, structure, and lack of mitigation for key person risk. The fund expressed appreciation for Musk’s contributions but emphasized the need for fair compensation.
Tesla and X owner Elon Musk has congratulated Narendra Modi on his re-election as Prime Minister of India for a third term. Musk expressed his anticipation for his companies to contribute to exciting projects in India. He had previously planned a visit to India in April, but it was postponed due to Tesla obligations. Despite the delay, Musk intends to visit India later in the year and potentially discuss Tesla’s plans for the country. India’s recent launch of its EV policy has garnered attention from Musk, who believes it is a natural progression for his company to provide electric vehicles in India. The 2024 Lok Sabha election results concluded with the BJP securing 240 seats, below their previous count. Prime Minister Narendra Modi will be sworn into office on June 9, 2024, by President Droupadi Murmu.
Tesla shareholders will decide on Elon Musk’s massive $56 billion compensation plan on June 13th. Tesla Chair Robyn Denholm emphasizes Musk’s unique role and the company’s exceptional nature, while former audit committee chair Steve Westly voices opposition due to financial concerns. Despite resistance, early voting indicates strong shareholder support for the package. Denholm’s letter highlights Musk’s potential departure if incentives are not adequate, emphasizing the importance of retaining exceptional talent while safeguarding shareholder interests.
Elon Musk’s social media platform, X, will host a town hall with former US President Donald Trump. The announcement follows Trump’s recent guilty verdict for illegally influencing the 2016 election. The event, which may also feature independent candidate Robert F. Kennedy, has not yet been scheduled. Musk, who has criticized the Biden administration, has drawn closer to Trump, who is considering him for a White House role. Musk has condemned Trump’s verdict, expressing concern about the potential risks to all citizens.
Former US President Donald Trump is reportedly considering appointing Tesla CEO Elon Musk as an advisor in the White House ahead of the 2024 presidential election. The discussions between Trump and Musk have focused on how Musk could provide “formal input” on issues such as the border, the economy, and preventing voter fraud. Although the exact details have not been finalized, the two have been speaking “several times a month” and Musk has previously expressed his opposition to President Biden’s administration. Musk has not previously donated heavily to presidential campaigns, but he has contributed to both Republicans and Democrats in the past.
SpaceX is aiming for Wednesday, June 5, for the fourth test launch of its Starship rocket. The launch is contingent upon approval from the Federal Aviation Administration (FAA), but the company is optimistic about launching with short notice. The 120-meter-tall Starship is the most powerful rocket ever built and consists of the Super Heavy booster and the upper-stage Starship spacecraft. The first three test flights have met varying degrees of success, but the goal remains to develop a fully reusable system for missions to the moon and Mars.
Kabosu, the iconic Shiba Inu behind the famous “doge meme” and the face of Dogecoin cryptocurrency, passed away recently. News of her death was announced by her owner, Atsuko Sato, who shared that Kabosu battled chronic health conditions in her later years. Dogecoin creator Billy Markus also paid tribute to Kabosu, acknowledging her significant impact on the cryptocurrency community.Elon Musk, recently acquired the micro-blogging platform, expressed his condolences on X (formerly Twitter), stating “Rest in peace”. Netizens requested that Musk change the X logo to Kabosu’s photo in her honor, a request that has not yet been fulfilled.
Responding to a viral post on X, Elon Musk acknowledged the issue of disappearing content when the feed refreshes. He confirmed that the company is working to resolve this problem. Many users expressed their frustration with this ‘bug’ on the platform.
Elon Musk’s SpaceX announced that its Starlink satellite internet service has surpassed 3 million customers globally. Starlink provides high-speed internet access to nearly 100 countries, including regions that lack reliable connectivity. The service was launched in beta in 2020 and has rapidly expanded its reach, driven by the company’s ambitious goal of connecting underserved areas with satellite internet. SpaceX has deployed thousands of satellites into orbit to support Starlink’s operations, enabling it to provide low-latency, high-speed internet to residential, business, and government customers. While Starlink has faced criticism for its potential impact on astronomy and concerns over its use by the Russian military in Ukraine, SpaceX continues to make progress in its mission to bridge the digital divide and bring internet access to remote and underserved communities around the world.
Following his visits to China and Indonesia, Tesla and SpaceX CEO Elon Musk met with Sri Lanka’s President Ranil Wickremesinghe at the 10th World Water Forum in Bali. During the meeting, they discussed the potential implementation of Starlink internet services in Sri Lanka, bringing connectivity to rural areas and expanding access to education and economic opportunities. Musk’s visit was significant as he was scheduled to make major announcements in India regarding EV manufacturing and Starlink, but his visit was abruptly canceled due to pressing Tesla obligations.
